SINGAPORE--(BUSINESS WIRE)--Allegro Development Corporation, a leading provider of commodity trading and risk management (CTRM) software, announced today a strategic partnership with NeuSoft Enterprise Solution Department (ESD). Focusing on software technology, NeuSoft is the largest IT solution and service provider in China with more than 10 years of experience serving 3,000 companies across the globe in various industries.
This partnership was initiated through a joint solution packaged for China National Offshore Oil Corporation (CNOOC) who is expanding their LNG operations with the addition of new terminals along China’s coastal region managed under their Gas & Power Group. Leveraging Allegro and NeuSoft ESD’s experience and sophisticated solutions, the ETRM project helps CNOOC enhance their risk forecasting, assessment and management for LNG procurement and distribution to overcome the changing market challenges. The relationship allows both Allegro and NeuSoft ESD the capability to broaden their reach throughout the Asia-Pacific region targeting companies transacting in energy commodity markets.
"Allegro and NeuSoft ESD will give customers the ability to achieve growth as LNG markets evolve to keep pace with the rising demand in China," said Mark Weaser, Allegro Managing Director for Asia Pacific. "Our joint offering brings a new dimension of capability to Chinese oil and gas markets, and we’re excited about working together."
According to "Race for Supply – The Future of China’s Gas Market," a Wood Mackenzie Report, China’s demand for liquified natural gas may increase by 48 percent by 2020. This comes at a promising time for Allegro who has committed research and development to LNG projects in 2014 and made significant investments to staff the Asia-Pacific region with energy trading and risk management experts.
Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 29 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities. Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets, allowing decision makers to hedge and execute with confidence. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney and Zurich, along with a global network of partners. www.allegrodev.com.